Ant Financial, Amazon and Crypto Fraud: Top Trending Financial Tweets - Week 23

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06/08/2018 | 12:00 pm
We’ve had yet another event-filled week drawing to a close. From Buffet, Bezos and Dimon’s new CEO to Amazon’s Premier League rights and more than $1 billion stolen cryptocurrencies: here’s this week’s selection of top trending financial tweets.

#7 Another buy for Microsoft

A couple of weeks ago, Microsoft acquired the artificial intelligence startup Semantic Machines to help them make chatbots sound more human. This week, Bloomberg reports that the American tech giant made a deal with GitHub Inc. to buy the San Francisco-based company for $7.5 billion in stock. 

Github offers a popular service that allows coders to share and collaborate on their work. According to Bloomberg, Microsoft expects the deal to close by the end of this year.

#6 Grab and go

Drivers at Grab - the South-East Asian ride-hailing company that bought out competitor Uber’s local business earlier this year - are now mini mobile convenience stores as well as taxi drivers.

TechCrunch reports that Grab has partnered with Cargo, a New-York-based startup, to sell a selection of items to passengers during their ride. Think of snacks, phone chargers and beauty items for example.

#5 Facebook’s Chinese sharing

The Facebook saga continues… On Wednesday, there was once again news about Facebook’s data sharing practices. The company admitted that it has shared user data with several (controversial) Chinese handset manufacturers like Huawei, Lenovo and Oppo.

#4  Bezos, Buffett and Dimon find their CEO

A couple of months ago, Berkshire Hathaway, J.P. Morgan, and Amazon announced their plans for a joined health-care venture. The idea behind the collaboration is to try and tackle the rising health-care costs.

This week they finally found their future CEO it seems. CNBC reports that CEO’s Bezos, Buffett, and Dimon have chosen their incoming leader and will probably reveal the name within two weeks.

#3 Amazon acquires rights to show 60 Premier League games

A week full of exciting developments for Amazon CEO Jeff Bezos. On Thursday, the Financial Times reported that the company won the rights to broadcast 60 English Premier League football games over three years.

Although the matches that Amazon will broadcast are relatively small, the fact that the e-commerce giant was able to compete with - and win - from traditional broadcasters like Sky underlines the tectonic shift that’s happening in the entertainment world.

#2 More than $1 billion of stolen cryptocurrency

So far, $1.1 billion worth of cryptocurrency has been stolen this year, CNBC reports. Carbon Black Security strategist Rick McElroy told CNBC that, unlike what you may think, it’s relatively easy to commit cybercrimes like ransomware - even with no tech skills what so ever. The necessary malware costs about $224 on average (but can be a lot cheaper) and criminals use the dark web to facilitate large-scale cryptocurrency theft.

#1 Ant Financial raises $14 billion

On Friday, Jack Ma’s financial-technology giant said it raised around $14 billion from domestic and global investors in one of the largest private-capital raises on record.

According to the Wall Street Journal, this was the first time foreign investors could buy a stake in the Hangzhou-based company and the funding round valued Ant at around $150 billion.

Ant owns and operates Alipay, China’s largest online and mobile payments network. The company has grown very fast over the past couple of years, mainly thanks to the financial services it offers to people and companies that traditional banks ignored, according to the same Wall Street Journal article.

Alright, that’s this week's round-up all done. Of course, we’ll keep on top of the latest Tweets and we’ll continue to bring you the most trending financial micro-messages from the web. See you back here next Friday.
Neelie Verlinden
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